On the next block and across the street from the Carolina Hotel, on the corner of Fourth and Cherry Streets, is the Nissen Building. This 20-story, buff brick neo-classical building was completed in 1927 and built by W.M. Nissen, owner of Nissen Wagon Works. Nissen Wagon Works was a very successful wagon building company that dated back to 1787. When his building was completed, Mr. Nissen made his residence on the 20th floor.

The Nissen Building was the first air-conditioned building in the Southeastern United States, and was the tallest building in the Carolinas for a little over 2 years, until the completion of the R.J. Reynolds Building down the street. The building was placed on the National Register of Historic Places in 1983.

The Nissen Building is currently undergoing extensive renovation and will be converted into a 140+ unit apartment building with first floor retail space.